West Michigan Advisors LLC Takes Position in Ralph Lauren Corporation $RL

West Michigan Advisors LLC bought a new stake in Ralph Lauren Corporation (NYSE:RL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 997 shares of the textile maker’s stock, valued at approximately $274,000.

Several other institutional investors have also recently added to or reduced their stakes in RL. GAMMA Investing LLC grew its stake in shares of Ralph Lauren by 9.9% in the first quarter. GAMMA Investing LLC now owns 1,152 shares of the textile maker’s stock worth $254,000 after acquiring an additional 104 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Ralph Lauren by 1.9% during the first quarter. State of Alaska Department of Revenue now owns 4,671 shares of the textile maker’s stock worth $1,031,000 after purchasing an additional 85 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Ralph Lauren by 10.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,158 shares of the textile maker’s stock worth $476,000 after purchasing an additional 197 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Ralph Lauren by 21.2% during the first quarter. Asset Management One Co. Ltd. now owns 1,218 shares of the textile maker’s stock worth $269,000 after purchasing an additional 213 shares in the last quarter. Finally, Spire Wealth Management grew its stake in shares of Ralph Lauren by 709.6% during the first quarter. Spire Wealth Management now owns 1,692 shares of the textile maker’s stock worth $373,000 after purchasing an additional 1,483 shares in the last quarter. Institutional investors and hedge funds own 67.91% of the company’s stock.

Ralph Lauren Trading Down 0.3%

NYSE RL opened at $335.19 on Friday. The firm has a market capitalization of $20.30 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.67 and a beta of 1.61. The company has a 50-day simple moving average of $311.91 and a 200-day simple moving average of $280.96. Ralph Lauren Corporation has a one year low of $176.61 and a one year high of $341.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.30 and a current ratio of 1.84.

Ralph Lauren (NYSE:RL) last issued its quarterly earnings data on Thursday, August 7th. The textile maker reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.27. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.65 billion. Ralph Lauren had a net margin of 10.91% and a return on equity of 33.72%. Ralph Lauren’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $2.70 EPS. On average, equities analysts forecast that Ralph Lauren Corporation will post 12.01 earnings per share for the current year.

Ralph Lauren Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were issued a $0.9125 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, September 26th. Ralph Lauren’s payout ratio is presently 29.15%.

Wall Street Analysts Forecast Growth

RL has been the subject of a number of research reports. TD Cowen boosted their price target on shares of Ralph Lauren from $354.00 to $399.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Jefferies Financial Group raised their price target on Ralph Lauren from $365.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday. Zacks Research upgraded Ralph Lauren to a “strong-buy” rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. raised their price target on Ralph Lauren from $423.00 to $430.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Finally, Wells Fargo & Company upped their target price on shares of Ralph Lauren from $320.00 to $345.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.12.

About Ralph Lauren

Ralph Lauren Corporation designs, markets, and distributes lifestyle products in North America, Europe, Asia, and internationally. The company offers apparel, including a range of men’s, women’s, and children’s clothing; footwear and accessories, which comprise casual shoes, dress shoes, boots, sneakers, sandals, eyewear, watches, fashion and fine jewelry, scarves, hats, gloves, and umbrellas, as well as leather goods, such as handbags, luggage, small leather goods, and belts; home products consisting of bed and bath lines, furniture, fabric and wallcoverings, floor coverings, lighting, tabletop, kitchen linens, floor coverings, dining, decorative accessories, and giftware; and fragrances.